Onecoin
Launch 1st of March 2017. LAUNCHED Unix time: 1488326400
This is a cryptocurrency (social) experiment with a brave controversial name inspired by the miracle of open source cryptocurrencies, annoying ponzi scammers, a big dose of curiosity about what will happen next and a wish to just confuse people a bit.
There is NO bussines plan, no roadmap, no hidden plan.
The developer will only be involved in providing the initial source code for a working coin (and compiling the windows wallet), everything else is left to the community: updating the code, developing other services like mining pools, faucets, translations, setting up slack (or similar chanels), getting the coin on an exchange, advertising, leaving the coin to die...etc
Specs:
- Name: OneCoin Ticker: OC
- Fork of latest Blackcoin (added miner (setgenerate), removed alert function, cleaned up the forks, other details below)
- Block time: 10 minutes (effectively 5 minutes, since pow and pos blocks are targeted at 10min)
- PoW mining algorithm: SHA256T (Triple Sha256, yes triple, not double)
- Maturity: 250 blocks
- Max coins: 21 - 42 milion (approximate, see below for explanation)
- Addresses start with 1
- P2P Port: 8881 RPC Port: 8882
- Check other details in the source code
Reward scheme:
Proof of Work:
- NO PREMINE
- 0 REWARD until height 500 (approx 3 days, to avoid lowdiff instamine and to allow everyone to get ready)
- After block 499, reward is 50 COINS.
- Halving every 4-8 years (every 420480 blocks, see below for explantion why it is not exact when the halving happens)
Proof of Stake:
- NO REWARD, ONLY TRANSACTION FEES
- A Stake will occur ONLY IF there is a transaction in the mempool that is paying the fee
Because of unique reward structure - "no reward pos blocks", the total amount is not exact:
Case A: Nobody makes a single transaction in the entire liftime of the network, meaning all the blocks were PoW, creating rewards along the way, making the total supply 42 milion.
Case B: There is always a transaction in the mempool, keeping the average block time at 5 minutes, blocks are distributed 50:50 between PoW:PoS, totaling the supply at around 21 milion.
Case C: Things balance somewhere in between, the total supply is still predictable in the medium term <<<--- Most likely scenario
The idea behind the reward structure:
- PoW miners get payed by the network for spending energy and securing the network
- PoS miners (stakers) get payed by people using the network (paying transactions fees) in the begining that is practically zero, but the expenses of running a full node while the network is young is also close to zero (incentive to run a full node grows as the network grows or more accurately, when transaction volume grows)
- Long term competition develops in the fee market between the miners and stakers, pushing the price of fees downwards for the users.
That is all in theory, it is all an experiment. We will see how it goes,
if it even starts it started
Source:
https://github.com/theone-and-not-only-coin/onecoinWin wallet:
https://github.com/theone-and-not-only-coin/onecoin/releases/tag/v1.0_newlogoPaper wallet: Use the same as bitcoin, same address, same prikey import format.
My suggestions to the community for the first steps:
- Try out testnet while waiting the offical launch. P2P port: 18881 RPC port: 18882 (On testnet the reward kicks in at block 20, halving every 1000 blocks, maturity 10 blocks) -- network is live
- Start telling each other some IP addresses for bootstraping (To add in onecoin.conf, e.g. addnode=x.x.x.x)addnode=103.240.126.40
addnode=109.241.110.205
addnode=110.55.67.96
addnode=113.61.250.27
addnode=130.83.137.28
addnode=136.243.50.159
addnode=149.202.78.181
addnode=162.254.5.190
addnode=172.106.75.17
addnode=174.100.183.67
addnode=174.88.94.62
addnode=176.50.140.91
addnode=176.79.119.88
addnode=178.150.3.240
addnode=178.234.21.218
addnode=178.39.79.114
addnode=180.150.226.50
addnode=185.52.142.245
addnode=193.164.140.162
addnode=193.83.12.118
addnode=194.96.162.189
addnode=195.114.243.47
addnode=209.177.86.34
addnode=220.245.124.169
addnode=24.246.84.132
addnode=37.218.160.171
addnode=37.6.43.199
addnode=5.137.199.152
addnode=58.243.226.71
addnode=62.141.153.198
addnode=62.182.202.249
addnode=75.135.250.212
addnode=76.68.249.232
addnode=77.111.163.71
addnode=77.250.7.129
addnode=78.141.104.67
addnode=78.205.33.15
addnode=78.46.192.126
addnode=78.94.32.194
addnode=82.160.16.10
addnode=89.142.75.86
addnode=92.81.74.69
addnode=93.103.159.8
addnode=93.103.41.29
addnode=94.23.102.99
addnode=95.53.247.188
- Someone should probably fork the code and add some seednodes and recompile the wallets (line 88-91, chainparams.cpp, currently commented out)
- Change the logo, I did not put much effort into itLogo updated, tnx to user @osmiumcoin
- Have fun and enjoy your own fair, not premined to hell, no founder reward, open source, ICO free, clean, (no)shit coin cryptocurrency
EXCHANGE#1#2BLOCK EXPLORER#1#2With compliments from @fairglu a CryptoID blockexplorer.
First 2 months are on the house and a 10% off on the regular $10 in BTC per month price.
https://chainz.cryptoid.info/oc/Hosting can be extended by a donation to
BTC 1F4VXcWtiQmm8BVhruLrhdbXSEAM6FA2FY
Hosting rate for this blockhain is currently $8.9 per month
(Community spirit) 1 : 0 (Greed)
Funded by ocminer, developed by elbandi:
Crownfounding opencl (amd) cpu miner
Here is my deal: a soon as there are 0.25 btc sent to this address, i start to make a public opensource gpu miner:
13dw6aBybHmAHFsy1ndUwWembGNzzPSE9s
(all the same, if only someone send the above value, or more ppl)
So, the communinty has the choice if they want now a gpu miner, or wait for someone else makes it later.
Okay, sent.
Please use phatk kernel so I can see what I missed.
Thanks
Nicehash cosed source
https://bitcointalk.org/index.php?topic=1777827.msg18092240#msg18092240Open source ccminer
https://github.com/tpruvot/ccminerSLACKTWITTER@OneCoin11
https://twitter.com/OneCoin11
Donations to Kim (bitcoin/onecoin): 1FpegEt3ax7wkYzGB5GVSpKixb4VHWSJ4X
